Washington Correspondent
From the price of a hamburger at McDonald's to a Netflix subscription to a haircut at the local hairdresser, everything is rising sharply in the United States.
Over the past year, bacon has gained 21%, citrus fruits 22.5%, coffee 14.1%, living room and kitchen furniture 17.3%.
The increase in the price of gasoline at the pump, the most visible and publicized sign of inflation, is 52%.
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The sharpest rise in prices for forty years is the first explanation for the relapse in American consumer morale, to its lowest level since 2011. Without the violent return of inflation, the gloom would be incomprehensible in an economy which, at the end 2021, showed 7% growth (annual rate), created 6.7 million new jobs last year and where unemployment fell almost as low as before the pandemic, at 3.8%.
Rise in inflationary expectations
Thanks to a 30% increase in two years in the public debt, America thought it was getting back on its feet.
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